Pelosi Says House Will Move Forward With Debt Limit Bill

The House of Representatives plans to move forward on Wednesday to pass legislation that would suspend the U.S. debt limit, Speaker Nancy Pelosi said in a letter to lawmakers.

"We must act now," Pelosi wrote, but gave no details about the vote.

"The full faith and credit of the United States should not be questioned... We cannot and will not allow Republicans’ extremism and utter lack of concern for families to drive our economy into the ground."